Hindustan Unilever Ltd Q3 Results FY2023, Net Profit at Rs. 2,481 Crores
On 19th January 2023, Hindustan Unilever announced its results for the third quarter of FY2023.
- Total sales at Rs. 15,343 crores grew by 16% during the quarter.
- Earnings before interest, tax, depreciation, and amortization for the quarter at Rs. 3,694 crores, grew by 8%.
- EBITDA margin at 24.1 % declined by 170 bps.
- Profit after tax for the quarter at Rs. 2,481 crores, grew by 8%.
- Home Care delivered another solid performance with 32% revenue growth and double-digit volume growth.
- Fabric Wash and Household Care grew in high double-digits with all parts of the portfolio performing very well.
- Beauty & Personal Care grew by 10%.
- Hair Care grew in high single-digit led by strong performance in Clinic Plus.
- Oral Care delivered steady performance led by Close-up.
- During the quarter, Tresemme’s new hair care range with Protein Bond Plex technology, Lakme’s new range of serums and compact, and Lifebuoy’s superior formulation with Neem and Aloe were launched.
- Foods & Refreshment delivered 7% growth led by robust performance in Foods, Coffee, and Ice-cream. Ice Cream had another strong quarter with double-digit growth. Tea continued its value and volume market leadership and delivered mid-single-digit volume growth. Coffee continues to perform well delivering double-digit growth.
- Health Food Drinks (HFD) grew in the mid-single digits with a strong performance in Boost and Plus range.
- During the quarter, Red Label’s ‘Maa Care’ a new premium tea with 80% less caffeine, Bru ‘Instant Decoction’ coffee, Knorr ‘Korean Meal Pot’, and new flavors of Knorr Soup were launched
Sanjiv Mehta, CEO and Managing Director commented: “Sustaining our strong momentum, we had yet another quarter of solid all-round performance delivering double-digit revenue and earnings growth. Our consistent performance is reflective of our strategic clarity, the strength of our brands, excellence in execution, and dynamic financial management. I am excited about our foray into the fast-evolving ‘Health and Wellbeing’ category through our strategic partnerships with OZiva and Wellbeing Nutrition. Our sustainable community development initiative ‘Prabhat’ turned 9 this year. Through Prabhat, we have made a positive difference to nearly 9 million people in the communities around our factories and depots. Looking forward, we are cautiously optimistic in the near term and believe that the worst of inflation is behind us. This should aid in a gradual recovery of consumer demand. We remain focused on managing our business with agility and continue growing our consumer franchise whilst maintaining margins in a healthy range. We stay confident of the medium to long-term potential of the Indian FMCG sector and HUL’s ability to deliver Consistent, Competitive, Profitable, and Responsible growth.”
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